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Postgraduate Diploma In Economics

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  • Objectives
    On successful completion of this course, students should be able to: * apply and critically evaluate, at an advanced or honours level, the key concepts and techniques of microeconomics, macroeconomics and econometrics * apply analytical skills developed primarily through the in-depth study of elective subjects in economics or econometrics * apply theory to economic policy and business decision making * explain and critically evaluate the use of economic and econometric models for description and hypothesis testing, forecasting, assessing different business decision options and for assessing different government policy options. On successful completion of this course, students should be able to demonstrate the following attributes and skills: * Evaluation of ideas, views and evidence * Synthesis of ideas, views and evidence * Strategic thinking * Critical thinking * Research * Summary and interpretation of information * Using computer programs * Statistical reasoning * Problem solving * Collaborative learning and team work * Written communication * Oral communication.
  • Academic Title
    Postgraduate Diploma In Economics
  • Course description
    The Diploma consists of eight semester-length subjects comprising two core economics subjects, a quantitative subject and five elective subjects.
    Two core economics subjects:

    Subject     Semester     Credit Points

    316-402  Advanced Microeconomics
    An introduction to advanced microeconomics and to the economics of information and strategic behaviour. Topics to be covered include decision making under uncertainty, the interaction of primal and dual methods of modelling producer and consumer beha...     Semester 1     12.50

    316-403  Advanced Macroeconomics
    This subject presents recent developments in macroeconomics. There will be a mix of theory and applications. The main theories to be covered may include overlapping generations models, dynamic optimisation, real business cycle theory, intertemporal o...     Semester 1     12.50

    At least one quantitative subject selected from:

    Subject     Semester     Credit Points

    316-316  Basic Econometrics
    This subject examines multiple regression analysis and its use in economics, management, finance, accounting and marketing. Topics will include the properties of estimators, hypothesis testing, specification error, multicollinearity, dummy variables,...     Semester 1     12.50

    316-317  Econometrics
    Extensions of the multiple regression model are examined. Topics include non-linear least squares, maximum likelihood estimation and related testing procedures, generalised least squares, heteroskedasticity, autocorrelation and models with stochastic...     Semester 1     12.50

    316-318  Applied Microeconometric Modelling
    This subject examines estimation and testing of microeconometric models based on cross-sectional and panel data and quantitative and limited dependent variables. Illustrative application topics normally will include labour economics, consumer demand ...     Semester 2     12.50

    316-350  Time Series Analysis and Forecasting
    Normally topics will include current techniques used in forecasting in finance, accounting and economics such as regression models, Box-Jenkins, ARIMA models, vector autoregression, causality analysis, cointegration and forecast evaluation, and ARCH ...     Semester 2     12.50

    316-401  Microeconometrics
    The specification, estimation and testing of a range of models used to analyse microeconometric data is examined. The models to be considered may include discrete choice models, models for censored and truncated data, models of duration data, models ...     Semester 2     12.50

    316-407  Bayesian Econometrics
    Basic tools and characteristics of Bayesian inference and the application of Bayesian inference to a number of econometric models are considered. The tools and characteristics will include joint, conditional and marginal probability distributions, pr...     Semester 2     12.50

    316-470  Econometric Techniques
    This subject introduces appropriate estimation and inference techniques for models that involve a single equation and those involving systems of equations. Normally topics will include asymtotic theory, maximum likelihood estimation, classical testin...     Semester 1     12.50

    316-449  Financial Econometrics
    This subject presents an econometric treatment of topics in finance. Normally the finance topics will include portfolio theory, capital asset pricing models, arbitrage pricing theory, efficient markets hypothesis, covered interest parity, term struct...     Semester 2     12.50

    Five elective subjects:

    Selected from third year (level three), fourth year (level four), diploma level and advanced offerings of the Faculty as approved by the Academic Director of the program. An elective subject may not be taken if a candidate has previously completed a subject of similar content. Note that some fourth year (level four) subjects are not available to Diploma students.

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